Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Whitestown RDA approves up to $33M bond authorization to finance Padgett Commons infrastructure
Summary
The Whitestown Redevelopment Authority approved Resolution 2025-01 to authorize up to $33 million in bonds to fund public infrastructure for the Padgett Commons project, using tax-increment financing as the primary repayment source and a property-tax pledge as a backstop.
The Whitestown Redevelopment Authority voted to approve Resolution 2025-01 authorizing issuance of not-to-exceed $33,000,000 in bonds to finance public infrastructure for the Padgett Commons project.
The resolution authorizes the authority to issue bonds with a term of up to 25 years and an interest-rate cap of 7 percent; municipal advisors advised the authority that the bonds are likely to carry an interest rate closer to about 4.5 percent given current market conditions. The resolution and related documents include two lease agreements: a site lease between the Redevelopment Authority and the Town of Whitestown, and a financing lease between the Redevelopment Commission and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
